More than 200 victims in Vietnam have been scammed by a cryptocurrency mining scam

More than 200 people have fallen victim to a cryptocurrency mining scam in South Vietnam, after losing a total of VND4 billion (about US$157,300) to a fraudulent platform. Police have arrested four people linked to the development of a fraudulent website called BitMiner, which had a domain in Singapore.

According to officials, these individuals were involved in luring victims to buy fake cryptocurrency ‘Bitcoin’ on the website.

like I mentionedTran Minh Quang, 41, and three others were arrested on Saturday as part of an investigation into the alleged fraudulent seizure of assets in Dong Nai province, which borders Ho Chi Minh City. The group created false advertisements to mislead users into believing that they were running a legitimate company based in Dubai.

They recruited many collaborators by promising big profits. These collaborators received materials and manipulated trading accounts to further deceive investors. Several cryptocurrency mining packages are offered to investors with different speeds, including Red Diamond, Blue Diamond, Diamond Gold, Black Diamond, and Green Diamond.

Read also: UniCredit Bank has been fined €131 million for illegally closing its Bitminer account